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Editorial Advisory Board

  • Professor Andrea M. Armani, University of Southern California
  • Ruti Ben-Shlomi, Ph.D., LightSolver
  • James Butler, Ph.D., Hamamatsu
  • Natalie Fardian-Melamed, Ph.D., Columbia University
  • Justin Sigley, Ph.D., AmeriCOM
  • Professor Birgit Stiller, Max Planck Institute for the Science of Light, and Leibniz University of Hannover
  • Professor Stephen Sweeney, University of Glasgow
  • Mohan Wang, Ph.D., University of Oxford
  • Professor Xuchen Wang, Harbin Engineering University
  • Professor Stefan Witte, Delft University of Technology

Nasdaq Unveils Groundbreaking Plan for 24-Hour Stock Trading by 2026

New York, March 15, 2025 – In a bold move to redefine the U.S. financial landscape, Nasdaq Inc., the nation’s second-largest stock exchange, has announced plans to introduce 24-hour trading on its flagship equities platform. The initiative, revealed by Nasdaq President Tal Cohen on March 7, 2025, aims to capitalize on surging global demand for U.S. stocks and is slated to launch in the second half of 2026, pending regulatory approval from the U.S. Securities and Exchange Commission (SEC).

The announcement marks a seismic shift for the Nasdaq Stock Market, which has traditionally operated from 9:30 a.m. to 4:00 p.m. Eastern Time, Monday through Friday. The proposed 24-hour, five-days-a-week trading model seeks to align U.S. equities markets with the round-the-clock nature of global finance, mirroring systems already common in cryptocurrency and foreign exchange markets. Cohen, in a LinkedIn post, emphasized that the change reflects “another pivotal moment for our markets—to broaden investor access, expand wealth-building opportunities, and redefine how markets function.”

A Response to Global Demand

The decision comes amid a notable rise in international appetite for U.S. equities, driven by increased retail participation, growing financial literacy, and the proliferation of digital trading platforms. Cohen highlighted that foreign holdings of U.S. stocks reached $17 trillion in June 2024, nearly double the amount from five years prior. This surge has underscored the limitations of traditional trading hours, particularly for investors in Asia, Europe, and other regions operating in vastly different time zones.

“A round-the-clock trading model will allow exchanges to tap into global demand by attracting investors across time zones, increasing trading volumes, and improving market liquidity,” Cohen noted. The move is expected to benefit international traders who currently rely on alternative platforms or after-hours sessions with limited oversight and protections.

Industry-Wide Momentum

Nasdaq’s announcement follows similar initiatives from rival exchanges. In October 2024, the New York Stock Exchange (NYSE), operated by Intercontinental Exchange, received SEC approval to extend trading on its NYSE Arca platform to 22 hours a day, from 1:30 a.m. to 11:30 p.m. ET. Meanwhile, Cboe Global Markets recently outlined plans to introduce its own 24-hour, five-day trading schedule. Additionally, in November 2024, U.S. regulators greenlit 24 Exchange—a new venue backed by Point72 Ventures—to become the nation’s first fully 24-hour stock exchange.

Brokerages like Charles Schwab, Robinhood, and Interactive Brokers have already embraced limited overnight trading options, signaling a broader industry trend toward continuous market access. However, Nasdaq’s entry into this space as a major exchange could set a new standard, bringing enhanced transparency, liquidity, and regulatory oversight to round-the-clock trading.

Challenges and Considerations

While the proposal has sparked excitement, it also raises significant challenges. Industry experts point to potential issues with liquidity and pricing stability during overnight hours, when trading volumes may be lower. Michael Ashley Schulman, a partner at Running Point Capital Advisors, suggested that regulatory approval might hinge on updating securities information processors (SIPs) to handle continuous markets. “Liquidity and fair market pricing will be relevant issues to address,” he told Reuters.

Corporate issuers have also expressed caution. A recent Nasdaq survey revealed concerns about managing liquidity and corporate actions—like dividends and stock splits—in a 24/5 environment. Cohen acknowledged these hurdles, stressing that “careful and deliberate planning” is essential to maintain market integrity. Nasdaq plans to collaborate with regulators, market participants, and technology providers to ensure a seamless transition.

A New Era for U.S. Markets

The shift to 24-hour trading could reshape how investors, companies, and financial institutions interact with U.S. markets. For retail traders, it offers unprecedented flexibility to respond to news and economic developments in real time. For Nasdaq-listed tech giants like Apple, Amazon, and Nvidia, it may mean greater exposure to global capital but also increased volatility as news cycles extend beyond traditional hours.

As Nasdaq prepares to file its formal application with the SEC, the financial world watches closely. If successful, this initiative could cement the exchange’s role as a pioneer in modernizing U.S. capital markets, meeting the demands of a truly globalized economy. For now, the countdown to 2026 begins, promising a future where the closing bell may become a relic of the past.

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